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CSPAN 21
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English 131
Search Results 0 to 49 of about 132 (some duplicates have been removed)
CSPAN
Dec 31, 2012 7:00am EST
to reduce the deficit. one trillion dollars in spending cuts over the next 10 years but these changes would result in more savings in the next 10 years and would solve our deficit problems for a decade. they say their biggest priority is dealing with the deficit. they are behaving and protecting the tax breaks for the wealthiest americans. that seems to be their overriding theme. host: a new development yesterday, the vice president joe biden was called in by mitch mcconnell, who said he needed a dance partner in all of this. guest: if you remember on friday, the president said he was going to turn over the lead to senator reid and senator mcconnell to work out a deal that could pass the senate and that he would sign on to whatever deal that was. senator reid and senator mcconnell were not able to reach that deal. the negotiations between them have turned increasingly bitter and senator mcconnell basically said that he could not work with senator read anymore and reached out to joe biden and ask him to resume the role that he has had in previous negotiations. the arbiter, the deal maker. jo
CSPAN
Dec 27, 2012 1:00pm EST
and services among consumers, they are chronically bad at creating a balance between deficit and surplus regions. a geographic problem, and intertemporal. remember -- if that comes first, suddenly the money lender who later becomes a banker who later becomes wall street plays a hugely significant role in this process. the banker is the conduit of that recycling mechanism. when they get an increase in proportion as the result of their mediation of that process. given that, a failure of the banker is not the same thing as the failure of a clothes maker. suddenly, there are two things that must happen. one, society will demand that banks are not allowed to go to the wall. then bankers are affectively given carte blanche, free money for themselves. and the whole mechanism breaks down like in 2008. it is often said in the eurozone, we made a huge error in europe of binding disparate economies by means of common currency. this is not the first time these if things that happened. it happened in the united states of america. you have disparate economies in the united states of america that are
FOX News
Dec 31, 2012 10:00am PST
on debt and deficits. we kept on pushing it off, pushing it off into the future. now we are right at the point where we have to make a decision on debt, dficits and spending and all we're talking about is a deal on taxes. it seems very likely that tax rates on higher income people will go up. we know for a fact that social security taxes will go up tomorrow, and some obamacare taxes they kick in as well tomorrow morning. so all we're talking about at the moment is raising taxes, we are doing nothing on deficit, debt and spending, that means this wrangling, this mess will continue. rick: child tax credits get extended according to some reports now. the earned income tax credit gets he can tended. the college tax credit gets extended for another five years, these are all things that cost u.s. taxpayers a lot of money, and it's probably just the beginning. >> it sounds like they are throwing a lot of items into the tax basket. i'd like to hear what they are going to say about the alternative minimum tax and the estate tax is that included in this tax basket? you'll notice, rick all t
FOX News
Dec 31, 2012 6:00am PST
deficit and debt and then a more recent one that passes an extension of all the bush tax cuts. so the their position right now, at least speaker boehner's is, hey, it is time for the senate to act on some of our bills. we'll keep an eye what is happening there. heather: busy day for them. president obama taking his case to the american public. here is what he had to say about the situation playing out on capitol hill. >> what's been holding us back is the dysfunction here in washington and if, you know, people start to see that on january 1st this problem still hasn't been solved, that we haven't seen the deficit reduction we could have had, the republicans been willing to take the deal i gave them, if they say, that people's taxes have gone up, which means consumer spending is going to be depressed, obviously that will adverse reaction in the markets. heather: there is lot at stake for all americans. three big issues on the financial front this morning as a matter of fact,. stu varney, host of "varney & company" on the fox business network joins us now. stu, no deal on capitol hi
CSPAN
Dec 31, 2012 12:00pm EST
agreement, a bigger deal, a grand bargain or whatever you want to call it, that solves the deficit problems in a balanced and responsible way that does not just deal with taxes but also spending so that we can put all this behind us and focus on growing our economy. with this congress, that was obviously too much to hope for at this time. [laughter] maybe we can do it in stages. we will solve this problem instead in several steps. in 2011, we started reducing the deficit through $1 trillion in spending cuts which have taken place. the agreement being worked on right now would further reduce the deficit by asking the wealthiest 2% of americans to pay higher taxes for the first time in two decades so that would add additional hundreds of billions of dollars to deficit reduction. that is progress but we will need to do more. keep in mind that just last month, republicans in congress of they would not agree to raise tax rates on the wealthiest americans and the agreement being discussed would raise those rates permanently. [applause] keep in mind, we will still have more work to do. we still ha
ABC
Dec 30, 2012 9:00am EST
at the outlines and projected you'd actually add to the deficit as a result of a mini deal over the next period. >> yeah, jonathan, some people have tried to talk about the reductions in spending that ane house in order. that would be the republican side. the president and a lot of folks in his party have shied away from those discussions and i think chuck is accurate in saying that's not going to happen in this conversation but it should. you are right. i can quote from the "juan post" editorial in which they chastised the president for not following through on his campaign promises to talk about a balanced solution, one that would involve both tax revenue and savings. ironically, the revenue that's produced in the president's proposals is about the same amount of money we're going to be spending just to provide disaster relief because of the hurricane to some of the folks on the east coast. >> now, wait. i don't think that's fair to the president. the president had put serious spending cuts on the table. he and speaker boehner a week and a half ago were this close in a $4 trillion deal, they
CSPAN
Dec 27, 2012 1:00am EST
, they are chronically bad at creating a surplus between deficit -- at creating a balance between deficit and surplus regions. a geographic problem, and intertemporal. remember -- if that comes first, suddenly the money lender who later becomes a banker who later becomes wall street plays a hugely significant role in this process. the banker is the conduct of that -- conduit of that recycling mechanism. when they get an increase in proportion as the result of their mediation of that process. given that, a failure of the banker is the same thing as -- is not the same thing as the failure of a clothes maker. suddenly, there are two things that must have been. -- happen. 1 -- society will demand that banks are not allowed to go to the wall. then bankers are affectively given carte blanche, free money for themselves. and the whole mechanism breaks down in 2008. -- like in 2008. it is often said in the eurozone, we made a huge error in europe of binding together these economies. -- disparate economies by means of common currency. this is not the first time these things that happened. it happened in the u
FOX Business
Dec 25, 2012 7:00pm EST
. federal deficits were .8%. that's .8% of gdp. now our trillion dollars federal deficit amounts to 7.3% of gdp. back then trade was aa contributor to economic growth for the, economy. reunion $500 million at $4.2 billion adjustedio for inflation, and we're running a trade deficit,it trade deficit $536 billion. $536 million. back then social security made up 6.5%. 6.5%. of the federal budget. 6.5%. the decayed and medicare didn't exist back then. let's compare that to what we are doing now. a 20% of the budget on social security, and then we throw a 21% more of the federal budget for medicare, medicaid, and another 13% for other social programs, food stamps. so that comes up to a whopping 54% of the budget. 54%. forgot to mention this. it is kind of important, isn't it? back than median family income was about $38,000. $38,000. today it is $62,000. we will pretend that looks like a two and that looks like a six. we haven't done too well, more than half a century in raising a the median income ine this country and that is something he is right about, we do have to fix that. imagine thi
FOX News
Dec 30, 2012 1:00pm PST
that republicans believe it should be about. it ought to be reducing the deficit and debt. >> senator mcconnell has spoken a couple times with the president and two of them have come up bipartisan deals to get through congress. >> those conversations and discussions continue. we remain hopeful that that will have a breakthrough. obviously what happened between the two leaders in the senate have broken down because the senate democrats fail to come forward with a counteroffer to the proposal that republicans made last night. hopefully the discussions between senators and mcconnell will be something we can vote on today or tomorrow that would add veteran what we believe would be an economic disaster. >> will you take a scaled down version, raising taxes on everybody, do you think your republican colleagues that enough republicans will opt over on the democratic side if needed? >> it's hard to say until we know exactly what might be in it. this is what i would say about it. if that is where we ends up. if we decides to move a bill on the floor and extension and put it on vehicle for that, he ought to
CSPAN
Dec 30, 2012 2:00pm EST
to the deficit, i just want to make sure that that money goes to the deficit in reality. it seems to me that that number comes up and is a political situation and what congress is really saying is that i am going to pander to the 98% because if i go to 125%, i will upset more of the electorate. i was listening to david brooks this morning and his comments that the real dysfunctional people are not necessarily congress, but the american people who are prepared to pass these deficits on to our grandchildren. >> have you looked at how any tax increases might affect you? had you planned for that at all? caller: i am comfortable enough, i am planned -- and i plan to give more. i would hope that most people in my financial situation would be prepared to do that. >> the democratic line is next, california. donna, hello. caller: i would like to state -- i think that one of our biggest problems is that the republican party has sold us out to grovers inquest. i think that everyone who took that pledge should be fired from the congress. they took an oath of office first. they have given away the o
CSPAN
Dec 30, 2012 6:30pm EST
to be reducing the deficit and debt. they say they want higher taxes on people in this country to pay for new spending. >> you have spoken a few times with the prize -- the vice president and it seems they have been able to come up with bipartisan deals. did he give you an indication that you just had with fellow republicans that it may be an avenue of success? >> there were conversations and discussions between us and we remain hopeful that it will be a breakthrough. obviously, what happened here between the two leaders in the senate had broken down because they had come forward with a counter offer to what republicans said last night. hopefully the discussions between the vice-president and senator mcconnell will get us back on track and we will have a breakthrough and something we can vote on today or tomorrow to avert what we all believe would be an economic disaster. >> harry reid is as if you cannot come up with something by tonight that he will push a scaled-down version of what the president asked for, the tax cuts on everyone making above $250,000. you say knowing your colleagues tha
FOX News
Dec 31, 2012 3:00pm PST
. >> if we are going to be serious about the deficit and debt reduction, then it's going to have to be a matter of shared sacrifice. at least as long as i'm president. i am going to be president for the next four years. >> president obama said a deal is in sight and appeared at a campaign style event to remind everyone he is winning and g.o.p. is not. >> last month, republicans in congress said they would never agree to raise tax rates on the wealthiest americans. the agreement currently discussed would raise those rates, raise them permanently. >> republicans suggest the event may backfire to accuse the republican of rubbing their nose in defeat. >> the president won. we know that. he won fair and square. isn't it now time to govern? >> the president was out of line with his comments at 1:30 afternoon. this is a delegate time. i think the democrats would be embased after what the president did. >> after months of the president promising a balanced approach there are only tax hikes for rich without new spending cuts. today he hinted at more tax hikes ahead. warning republicans th
CSPAN
Dec 28, 2012 7:00am EST
have a $16 trillion deficit right now. we have the deficit because of social security, medicaid, medicare, welfare, food stamps -- all policies put into effect by the democratic party. everything is socialism. thomas jefferson said it best -- the republic is doomed. people sacrifice -- i'm a libertarian. i am more objective. i'm not a republican or democrats. i have to wonder if i want to live in this country. 29% of americans got some kind of assistance when ronald reagan was president. i have to consider and i'm considering moving to a tropical island and watching america go down the drain. we need to abolish social security, medicare, and medicaid. host: i will stop you there. we appreciate your thoughts. joseph says -- will go back to stay but by the president on the passing of norman schwarzkopf. host: "his legacy will e ndure." back to your calls. caller: good morning. god bless us. [indiscernible] where is the love? .e're at a church when the president and everybody was running. the church was all over the program. we're in the church. do you know what happened? when we f
FOX Business
Dec 31, 2012 9:20am EST
that it's not as if we didn't see this coming. nobody is blaming the deficit reduction supercommittee and the fact of their failure to have a bipartisan agreement is really what triggered this fiscal cliff in the the first place. stuart: is it a failure of president obama to lead? i mean, else's the president of the united states of america. we are facing a fiscal crisis right now, an economic crisis, for heaven's sake. shouldn't we expect the president to go a long way towards dealing with this and leading us out of it? and i don't see it, frankly. >> i don't either. and i think his view, honest he isly, he just won an election and so he calls the shots and republicans should just follow along, even though republicans kept their majority in the house and there's a great deal of the country that does not support the way that obama would like to deal with this problem. stuart: look how it's been presented in the establishment media. president obama cutting short his holiday vacation, returning to washington trying to fix the fiscal mess. thank you very much, mr. president. mr. boehner,
CSPAN
Dec 26, 2012 8:00pm EST
just passed reduces the deficit $23 billion. the last farm bill that we passed that was completely paid for at my insistence as budget committee chairman. if everyone else were functioning the way the agricultural sector has would not have the budget problem. we faced up to reality. we had more pay fors than expenses. in this bill even far more in the way of deficit reduction. it demonstrates this is possible to do. but you got to have leadership and you got to have people who are willing to make some tough decisions to get it done. >> we have about five minutes and i want to talk more personal. you have decided to leave your papers of your quarter century plus to george washington university. why is that? >> i went to george washington university. they have tremendous resources there to take advantage of this collection which is loaded with history. >> what kind of things will researchers and historians find? >> i will find a single-minded focus on fiscal responsibility for 26 years. my staff says the remarkable thing i am looking at this collection is how consistent i have been about.
CSPAN
Dec 30, 2012 1:00pm EST
was president and he faced similar issues in that we had a deficit that was getting out of control, a debt that was getting out of control. we needed to have growth, and so he put forward a plan, a budget plan that invested in our people, invested in the infrastructure, invested in education, and at the same time said we can find cuts in other areas and we can raise taxes on those who are doing very well. and what happened with that fair and balanced approach? what happened was the greatest prosperity in modern history. 23 million jobs, no more deficits, we got to a balanced budget and i remember saying to my husband my goodness, what's going to happen? there won't be any more u.s. government bonds because we're going to be out of the debt situation. we saw -- we saw it on the horizon when george w. bush became president, he decided to go back, backwards on rates across the board from the wealthiest to the middle to the poor, and he put two wars on a credit card and we are where we are where we are. and to add to this history, we all know that we're coming out of the worst recession since
SFGTV2
Dec 31, 2012 11:30am PST
the street. overall, our budget, we are in our fifth year of major budget deficits. i have been chair of the budget committee for the past couple of years. i am still involved in budget issues. i want to make sure i can be helpful to my colleagues who are grappling with our huge deficit. it is inevitable that we are going to make painful cuts, so how do we do it in a way that will minimize the impact to every day san franciscans, how can we keep our parks in good conditions? how do we maintain our safety net for public health services, public security services, public safety? all these are critical decision that need to be made. the pension question is something that comes up. the cost of our pension liability will cost the city, especially because of our investments in the market have come down since 2008. we are spending more of our general fund to pay our pension costs. that is a big challenge. it is a long-term problem, but it also has short-term implications. we know right away we are not going to have the enough money as we need to cover our services and pension costs as well. i
MSNBC
Dec 31, 2012 7:00am PST
. the real cliff will come if we fail to deal with our debt and deficit. we just can't do that. >> that -- >> i don't like the content of the sequester. i do think it inordinately hits defense but that is something we can negotiate once we get into the new year. but to turn off those cuts would be just a frank admission we can't cut spending ever. i think the markets will respond very negatively to that and as well they should. >> you've also said republicans are resigned to seeing some sort of income tax hike. i wonder what is acceptable to you. we've heard 400,000, we've heard 450,000. is there a point at which it's a point of no return for you? >> well, my preference is to leave the rates where they are for everyone. we know that is not going to be the case. the president wouldn't sign such a bill. the democrats in the senate wouldn't pass it. so my goal is to pro-fekt tect y taxpayers as possible from higher tax rates. i don't know where that will be but the truth is that at midnight tonight taxes on everybody go up automatically, so i'll take a deal that can protect lower
PBS
Dec 28, 2012 7:30pm PST
about how california is broke, there's a structural deficit. there isn't a structural deficit anymore. there's $1.9 billion -- >> yeah. >> but that is small. it was $25 billion just a couple years ago. this problem is a good part of the way toward being solved, and i think if people would have -- i don't think people even still completely understand that. and to me, the big question is, are the democrats, now that they have two-thirds majorities in each house, are they going to blow it up again and create new deficits like when gray davis was in charge, by rewarding in spending and locking in unions and things like that. >> and i think the democrats do have the supermajority in both the state senate and the state assembly, but a lot of the new freshmen coming in are from more centrist districts. they won by small margins, and i don't think it's a foregone conclusion that they're going to be steam-rollering with big government. voters also passed prop 39, which closed a corporate tax option of -- some would call it a loophole to pay a lower tax. that brings another $1 billion into the
CSPAN
Dec 29, 2012 7:00am EST
of these politicians, mayors, governors should take a half cut pay to pay down the deficit. host: we are going to move on to darwin on the line for independents. caller: it is like the pentelikon, back in 1968 i was even fighting with the pentagon over budgets. you always had to have everything kept the same. nobody was going to change anything because next year there were going to pop everything by 10%. they told you got to worry because you would get 10% more. that goes all the way back to 1968. they just keep dwelling on one thing over and over again. i would like to know from the boston globe or the herald is asking for pictures of -- host: let's move on to del on the line for democrats. caller: this is an outrage that they cannot tax the wealthy by an additional 4%. this is the lowest tax rates that have ever paid in the united states. considering that their incomes are vast compared to what they used to be many years ago when they paid a much higher rate, they are wealthy and they do not want to pay. 4% does not amount to enough to affect the deficit. maybe we ought to consider 15% or something
FOX News
Dec 31, 2012 8:00am PST
is this because supposed to be a down payment on deficit reduction, and when you think about the things that could be in this bill, whether it's increasing rates for doctors in medicare, as well as possibly delaying the defense sequester, this bill could actually cost money and increase the deficit especially when you're talking about the tax rates. because remember cbo assumes that the tax rates are actually going to go back to clinton rates. so that is going to be a cost there. and that will be a problem in the house if this score comes back as blowing a hole in the deficit that will be a problem getting the votes even if they get a tkaoefrpblgts you're no deal. >> reporter: you're not confident at all that the money they get will be used to pay don't debt. >> i think some of it will. when you think about all the things that could be in this bill there are some pricey price tags here that are going to increase this bill and basically that is going to be a problem when house conservatives hear that this is actually going to increase the deficit. there will also be a problem for the credit rating
CSPAN
Dec 27, 2012 7:00am EST
the difference between the annual deficit and the national debt. the national debt is the fiscal cliff. we say it's unsustainable. from a mathematical standpoint, it is almost insurmountable. the only thing these taxes will do, i have graduate students who could not put into words what a trillion dollars was. host: go ahead and finish your thought on what these taxes will do. caller: what they will do is they will give the politicians a little leeway to fool around with the national deficit, the annual deficit, but they will not put a dent in the $16 trillion debt that we owe. that is the problem. host: we appreciate that call. over the past couple weeks, c- span has been conducting interviews with some of the retiring members. we have been showing those interviewed this week. tonight, one of the retiring members we spoke with is representative lynn woolsey, a democrat of california, served about 20 years. here's a portion of that interview. [video clip] >> i was on welfare because my children, ages 1, 3, and five years old, their father was diagnosed manic depressive, he would not do anything ab
CSPAN
Dec 27, 2012 10:00am EST
reduces the deficit $23 billion. the last farm bill that we passed was completely paid for at my insistence, as budget committee chairman. if everybody else were functioning the way the agriculture section has, we would not have a problem. we in the agriculture committee face up to reality. we had more pay-for spend expenses. -- baena expenses. i think it demonstrates this is possible to do. by you've got to have leadership. and you've got to have people who are willing to make some tough decisions to get it done. >> we have about five minutes. you have decided to leave your papers to george washington university. why is that? >> i went to george washington university and got my master's in business there. they are tremendous resources there to take advantage of this collection, which is really loaded with history. >> what kind of things will researchers and historians find in your papers? >> they will find that kent conrad has had a single-minded focus on fiscal responsibility for 26 years. my staff says a remarkable thing in looking at this collection is how consistent i've bee
CSPAN
Dec 30, 2012 7:00am EST
across the country. we talk about reducing deficits and having a responsible budget for 20 years. this is actually, it will you go over the cliff and nothing changes, the largest single day of the deficit reduction in world history. it is $600 billion in deficit reduction trust by the turn in the calendar. over the long term, you look at what that does, we are in much better shape over the long term by going off the cliff. the problem is that right now, we are still very slowly recovering from the worst financial crisis it had since the great depression. it probably is not the time to be having such large deficit reduction. that is why we and others have been focused on getting some kind of a larger deal that can ensure we do not have this extensive short-term deficit reduction. if we start to deal with these problems now, we can do so adequately and without too much short-term economic pain and helping the economy. from let's go to patricia oak creek, wisconsin on the democratic line. caller: good morning, and happy new year to the both of you. i feel so sad for our poor country
FOX News
Dec 30, 2012 8:00am PST
cliff really mean for us? you know, any deal will likely not address the deficit. so what we can expect from lawmakers, after the deadline is over. we will take a look at that. >> heather: a few more arguments. russian president vladimir putin is putting adoptions on hold for american families, like this boy, four years old. his future is on hoild because the president of russia says so. what his american abts adoptive parents have to say to putin. i have a cold, and i took nyquil, but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insuranc
CSPAN
Dec 28, 2012 12:00pm EST
but the debate over the deficit and the debt that is behind this? >> well, if you go back to 2001 and thereafter, the cost of the war was not included in the budget except the military and the defense budget. but the additional costs were not reflected in the budget. there were always supplementals. so they didn't show as a deficit. a vendor ackley to the debt. so while the budgets were reasonable in that period of time, the actual spending didn't show in the budget and people didn't pay as much attention to the debt as they do today because it kept mounting and so we borrowed to pay for the war and in fact we didn't ask people to make sacrifices financially. >> there is a difference between borrowing in the future, paying for work and paying back words, we are having to pay right now. people might have felt differently if they had felt the pinch right at that time. we would have asked different questions and were asked, and i think that is one of the reasons we got where we are. and it's where we are. >> on appropriations could you have been any more vocal about it to provide us getting into t
ABC
Dec 28, 2012 6:00pm PST
agreed to steep a spending cuts going into reduce the deficit. cuts now are just around the corner. >> the president says he's optimistic but did f.a deal can not be reached he'll tell hairy reid to introduce a fall back bill. >> put a bill making sure tax on middle class families don't goup, that unemployment is available for two million people z that lays ground work for additional deficit reductions and economic growth steps we can take in the new year. >> the bill, as the president calls bare minimum isn't what many hoped for, pushing off until next year, larger pron lems of dealing with the cuts. the study by george mason university found cuts will result in two million jobs lost and a $215 billion drop in the nation's gross domestic product. for california, it means defense spending will be cut by half a billion dollars, 12,000 children would lose their access to head head start programs and fewer women would receive screening. 7,000 victims of domestic violence would lose services. 8,000 fewer californians tested for hiv. 296,000 students could see their benefits cut and emp
CBS
Dec 28, 2012 6:30pm EST
. is this deal, if it's to be reached, will not the so-called grand bargain with trillions of dollars of deficit reduction. in fact, jeff, it's not even clear this deal-- again, if there is one-- would stop the across-the-board spending cuts for the defense department and other government programs. it looks like those cuts will go forward. what the president said today is 24 hours from now the senate leaders have to have a plan that deals with incom income taxes at a rate to be determined later, the threshold of that income, and some federal benefit and if they don't reach a deal, he will have his own plan b. >> if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the floor, and i've asked senator reid to do this, put a bill on the floor that makes sure that taxes on middle class families don't go up, that unemployment insurance is still available for two million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. but let's not miss this deadline. that's bare minimum that we
FOX News
Dec 28, 2012 8:00am PST
, we, republican are not trying to solve the fiscal cliff. we're trying to solve the debt and deficit. can you explain that? >> sure can. yeah, the white house has been very focused on what do we have to do to just get past the fiscal cliff. let's get over this bump and keep spend and keep going. in the house we're actually trying to solve the debt and deficit. let me illustrate this. we have a trillion dollars in deficit spending last four years. president says let's go back to the clinton levels of taxation. if we went back to the clinton levels of taxation we're still double the highest bush era of deficit spending still because spending was accelerated so much in 2009 and 2010. we're trying to bring the spending levels back down. on the contrary if we just brought the spending levels down to the clinton level spending instead of tax level going up to clinton level of tax it is would solve this. we're trying to solve the debt and deficit. we're trying to say how do we get out of debt. the president is saying let's get past the fiscal cliff and let's keep moving on. that doesn't sol
CSPAN
Dec 28, 2012 2:00pm EST
taxation by using a flat tax. that way you can calculate the amount of taxes we need for the deficit over 10 years. another point is to control the spending on entitlements by not giving millionaires social security benefits, thereby satisfying president obama's approach. instead of doing it through taxation, he can do it through the entitlements. guest: those are both ideas that have been raised, especially the social security and medicare benefits for the wealthy and potentially might not need them to live off of. one tricky part of that is wealthier americans have been paying these taxes for decades into social security and medicare if and a lot of folks have a problem with the idea of taking away their benefits they have paid for if just because they happen to be more well off. and issued the first caller raised and something to watch is this could really sort of set the tone for the president's second term. if this thing gets ugly and stays ugly, it's probably going to stay that way at least another year or two, and the next thing you know, he's a lame duck president. if we cut a dea
FOX News
Dec 28, 2012 10:00am PST
-class families that are already facing a real financial panic. >> warren buffett could pay off the deficit he wanted to. but it is to be that a deal will happen after january 1. does that make any difference? >> yes, it does. i think some of all this panic is a little bit overwrought. if they don't reach a deal in the next 22 hours or so, then we go into january, and the stakes get so much higher. as you said, people will start feeling immediately the effect of those higher taxes. and that will put the pressure on the congress and president reach a deal. if they don't reach a deal on december 31, which is my prediction, i believe sometime before the end of january, they will reach a deal. but my goodness. one of the things that is frustrating is we have known this day was coming for the last two years. yet here we are, 72 hours away and we don't have a resolution. gregg: this is a contrivance that they are desperately trying to fix. our member the president said in a debate, the debate, he said that i didn't come up with this. then bob woodward came out and said, yes, you did. you know, both
CW
Dec 29, 2012 10:00pm PST
unemployment benefits. with the deficit ticking higher, patience is wearing thin. >> for those of us that invest in the stock market, it's disgusting to watch them jockey around with our money. we're affected every day. >> reporter: missing in all the last-minute negotiations is talk of the $1.2 million in mandatory spending cuts scheduled to go into effect tuesday. >>> if the government does go over the cliff, the impact on the aviation industry could be disastrous, and it could have a domino effect on the economy. the transportation security administration could lose about 7% of its budget, and more than 7,000 security officers. passengers could face longer waits at security. the faa could see its budget cut, and that means fewer planes, passengers, and cargo. >> everybody's pocketbook and livelihood is tied to the aviation system. the impact of it not being able to provide the service they do today would be devastating. >> if washington can't reach a compromise, are the economic recovery could stall. >>> a new york woman has been charged with murder as a hate crime for allegedly p
SFGTV2
Dec 26, 2012 11:00pm PST
? supervisor kim: the budget is tough this year. even though our deficit is not as large as it has been, it is tough because we have made these cuts already, and did this point, we are cutting things we really do not want to cut. and it is painful. we will lose more potential services. we will also not be able to support our residents. we are looking at weekend meals for seniors. it is painful. i think we have to look at it as a combined approach. it has to be cut within city government that we can bear -- services that are less essential. second, you have to look at raising revenue in the city. i think it needs to be a combination. and third, need to be much better informed, and we have to ask our public employees to look at the budget. and they already have, but also to look back. it is a threefold approach to me. >> what are the city's housing needs him much of the board of supervisors to to address them? supervisor kim: it is tough, because we depend on the market to build housing for our residents we build at over 150% of the need. we are building over the need of the market rates.
SFGTV
Dec 25, 2012 8:00pm PST
-14 and 14-15. the mayor's office is currently projecting a 263 million dollar deficit for that two year period and that shortfall results from approximately 344 million dollars in known cost increases which is offset by 81 million dollars in estimated revenue growth over the same period. as always, this gap will have to be closed by the time the mayor submits his report, general funding departments reduced our budget, our general fund support by 3% over the next two fiscal years and they've asked us to make a 1 and a half percent cut in 13-14 and a 1 and a half percent cost in 14-15, the budget reduction targets that we received from the mayor's budget office are 465 thousand dollar reduction next year and a 558 thousand dollar reduction the next year, so in the scope of the budget reduction that they have received over the last three or four years, this is eminently manageable. two years ago, we were asked to make a 20% budget cut, so this is something that feels like we can accomplish hopefully with relatively little pain. we would hope to meet this 3% target as well as any cost inc
SFGTV
Dec 26, 2012 11:00pm PST
but the result of budget deficits across the board and i think they have born the massive bruntd of this within the technology world. >> i agree. >> finding number four -- the finding we were asking to react to. another consequence of dt for departments and participate in city wide initiatives and give up operational independence and for this i state that i agree. because other departments haven't had full faith in dt and not willing to give up operational independence. >> i would agree with that and i think that talks about the structural things we were talking about and structural issues and i look forward to the dialogue going forward and i think there are changes to be made here. >> number five and coit policies and changes and not communicated effectively to the mayor and coit and for this i would -- actually i think i partially agree. i would say partially disagree and i state while coit policies and city wide initiatives are communicated clearly there is no follow up or deadlines to carry out policies and initiatives. number six. this was set by an administrative code change i lghtde
CSPAN
Dec 31, 2012 2:00am EST
progress [inaudible] leading the way. but just as the u.k. deficit is not balanced with the government public transport issue are not solved in one year. we're public transport continued a national priority. we can't -- [inaudible] for the like of my young cousin. we can deliver more transport to get students from point a to point b. we can build a better, brighter future for young people. so when the opposition argument say it's not a national campaign, a focus of the divided region. i tell you this, divided we are weak, but united are the nation we are strong. more nation, one notion, one campaign. better public transport. [applause] [applause] >> thank you very much ib keyed for that. i note we have been joined by the former government chief when the labour party was in office nick browne. the member of parliament. it's great to have you here. thank you for coming. to oppose the motion, i call from the east of england. [applause] >> thank you, mr. speaker. we are here for one reason. to make contain and empower the young people that we so proudly represent. but, -- the parliament ca
FOX Business
Dec 31, 2012 3:00pm EST
for it. let me see something that brings down our deficit. okay. great to see you. happy new year. thank you so much. most of the the seiders, our elected officials are in d.c. on this new year's eve with a heat lamp of the media and constituents on them right now. what will they do? we are joined right now. we kept grabbing people. representative, a democrat from california. thank you so much for joining us . we have less than nine hours to go. tell me, what do you think will happen? >> let's be hopeful. let's be hopeful that we did a good, balanced deal. the ceos of looking for a balanced deals. i think there is one to be had. we have to pick a number where we have adequate revenues, somewhere above 250,000. okay. as a number. then on the cut side, keep in mind that in the budget control act of this year we have already well over a trillion, nearly a trillion 3-$400 billion of cuts already to take place. this sequestration is in addition to that. there are serious cuts coming down. they have to be done wisely, and that is why sequestration is a problem because it is not a wise way to m
FOX News
Dec 27, 2012 1:00pm PST
, the fact we've had four straight years of trillion dollars plus deficits, when the president says he wants to raise taxes on those $250,000 or above, that only generates $850 billion over the next ten years. we have had 1.422, 1.29 and on the way to another trillion dollars deficit for these years. what the president is proposing is not pragmatic whatsoever and really is a reflection of him i suppose living in a fantasy world. >> what do you think the deal that speaker boehner offered the president? >> well, i was against the plan b because i don't see this as being a tax revenue increase issue. most important is spending. we could georgia back -- go back to the simpson bowles commission. the most important thing, we have to deal with spending. we live in an america where the federal government now is spending 25% of our gross domestic product. when you study the obama budget that would increase to 32%. that's where the problem has to i am emanate from. the spending side of our budget is 62% of what we spend money on. it's not just about defense or discretionary. >> is there any indication
FOX News
Dec 29, 2012 1:00am PST
, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> joining us now from capitol hill. south dakota republican senator john thune, a member of the budget committee. so, senator, what do you make of the president's plan? >> i'm just glad the president is engaged. you can't do big things in washington, d.c. without presidential leadership. that's what we haven't had. the fact that he is now owe table. better late than never i would argue. at least he is at the table presenting something that wl give us a chance hopefully to get some bipartisan support in the senate and perhaps get something to the house that will avert what everybody agrees is a major economic disaster. but we're still waiting for the details and obviously there is a long ways to go and this is a very -- there is going to be a tough needle to thread in order to get this done. >> see, i don't understand why the democrats think that this is an economic disaster going off the cliff since really it's just a democratic agenda. cuts to defense and higher tax
FOX News
Dec 30, 2012 7:00pm PST
on wealthiest should go up a little bit sweas well as a deficit reduction package. if they can't say yes to good offers i have an obligation to make sure the entire burden of deficit reduction doesn't fall on seniors who are relying on medicare. >> republicans are expressing frustration saying the president is trying to put the blame on them for going off the cliff but when senator mcconnell was brought a few days ago mcconnell's office says he got a call from senator reed or democrats to talk about the fiscal cliff in about a month. they feel like they have not gone the extra pile here. >> the vice president getting a call today. what do they make of all of that? >> that could be a big deal. it shows the white house push back they are going to say look he has been pulling out all of the stops with the vice president in delaware came to the white house today working the phones we are told they had multiple conversations with senator mcconnell. a year and a half ago they talked about raising the debt ceiling it was joe biden a lot of years working with mitch mcconnell. joe biden got a nickname as
KICU
Dec 30, 2012 11:30pm PST
every effort to reach the balanced deficit agreement that the president promised the american people. we've been reasonable and responsible. the president is the one who has never been able to get to yes. >> what the people reelected me for is to put together a -- >>> the dairy cliff may not see a vote before 2013. leaders from the house and senate agricultural committees agreed to a one year extension of the farm bill. but there's been no time to get a full vote. without passage of the bill, milk prices could rise sharply. estimates are that a gallon of milk could go up to $8 a gallon. >>> prices for just about everything in california are about to go up. coming up at 10:30, what's behind the price increases and when you'll have to stay parting more. >>> tonight doctors in new york are treating secretary of state hillary clinton for a blood clot. her spokesman said hillary clinton's doctors discovered the clot during a follow up exam. mrs.clinton was immediately admitted into a new york hospital where doctors will monitor her for at least one week. >>> we'll be wrapping up a very dry we
CBS
Dec 30, 2012 7:30am PST
unemployment benefits. >> with the deficit ticking higher -- >> it's disgusting. >> miss ing in all the last minute negotiations is talk of the 1.2 trillion in mandatory spending cuts scheduled to go into effect tuesday. >> the fiscal cliff count down is the big topic on this morning's fogs the morning -- face the nation. there's two big visitors. it starts right after this newscast at 8:30 on cbs 5. >>> plastic shopping bags may soon be the fast. >> the final 2 days for those bags in an entire bay area county. >> a 2012 close, a look back at some of the big stories in the usa. we'll be right back. ,,,,,,,,,,,,,, as the new year begins tues the new ban appl >>> 20 minutes before 8:00. one of the biggest counties is jumping on the plastic bag ban. the new ban applies to all of alameda county. the incorporated areas and all of its cities also. stores will no longer be able to give customers one time use plastic bags. customers must bring their own bags or pay 10 cents each for a recyclable paper bag. similar laws are in effect in san jose, san francisco and dozens of other california cities an
FOX News
Dec 26, 2012 6:00am PST
serious about cutting the defsht and deficit? >> this is, look, this is the greatest irony of this entire discussion. and it is getting lost too much i think in the sometimes in the weeds of the back and forth negotiations. remember, the reason that we're doing this is because this grew out of the 2010 elections and debates over raising debt ceiling that following summer, 2011. the entire purpose was to reduce the size and scope of government in a way responsible to the voters of that midterm election. instead what we're almost certain to see is an expansion of government in the name of reintroducing it. we're likely to see much bigger government long term. we're not likely to deal with entitlement reforms as we need to do. as you suggest the president is pushing some short-term spending increases often in washington turn into long-term spending increases. gregg: but, steve, bill kristol, conservative, you know what, time to throw in the towel. you do not want to get blamed for raising taxes on 98% of americans. >> right. gregg: right? >> look, bill kristol is my boss and editor at "the w
FOX News
Dec 30, 2012 3:00pm PST
all heard taxing high income individuals more would only raise 5% of the deficit. another statistics that will break your eyes. if we raised everybody's income tax by 50%, we'd likely only cut the deficit in half. that should explain to everyone why it is imperative we finally do something about rapidly escalating entitlement cost but the president refuses to come to the table. nothing is fixed in my mind more than speaker boehner saying i've offered you 800 billion in additional revenue. what do i get in return? and the president said nothing. you also counted he won the election. i have got news, whether he won the election or not,let stats about the budget are neutral and nonpartisan and mr. boehner's republicans won an election too. he was elected president, not prime minister. he can't dictate to the house the way he would in england. >> as we look forward here, i heard you mention the debt commission and that's come up a couple times, that we've been down this road before with congress kind of bringing us to the brink but they always do a back deal. that has a longer lasting ef
CSPAN
Dec 28, 2012 1:00am EST
into the situation we are in right now, with the huge debate over the size of the deficit and the debt? >> go back to 2001 and thereafter. the cost of the wars was not included in the budget. they were always supplemental. they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held
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